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Introducing Procedural Utility: Not only What, but also How Matters Author info | Abstract | Publisher info | Download info | Related research | Statistics Bruno S. Frey
Matthias Benz
Alois Stutzer
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People not only care about outcomes, they also value the procedures which lead to the outcomes. Procedural utility is a potentially important source of human well-being. This paper aims at introducing the concept of procedural utility into economics, and argues that it should be incorporated more widely into economic theory and empirical research. Three building blocks of a concept of procedural utility are outlined and it is suggested how procedural utility can be fruitfully integrated. Evidence from a broad range of social sciences is reviewed in order to show that procedural utility is a relevant concept for economics.
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Paper provided by Institute for Empirical Research in Economics - IEW in its series IEW - Working Papers with number
iewwp129.
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Handle: RePEc:zur:iewwpx:129Contact details of provider:
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Keywords: procedural utility ; outcome utility ; institutions Growth Optimal Portfolio. ; Other versions of this item:
Find related papers by JEL classification: A00 - General Economics and Teaching - - General - - - General A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines D60 - Microeconomics - - Welfare Economics - - - General D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
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[Downloadable!] (restricted) Bruno S. Frey & Matthias Benz & Alois Stutzer, 2003.
"Introducing Procedural Utility: Not only What, but also How Matters ,"
CREMA Working Paper Series
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Other versions:
Bruno S. Frey & Matthias Benz & Alois Stutzer, .
"Introducing Procedural Utility: Not only What, but also How Matters ,"
IEW - Working Papers
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CESifo Working Paper Series
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AMIR, Rabah & EVSTIGNEEV, Igor & HENS, Thorsten & SCHENK-HOPPƒ, Klaus Reiner, 2003.
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CORE Discussion Papers
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Berkeley Olin Program in Law & Economics, Working Paper Series
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